STAMFORD, Conn.--(BUSINESS WIRE)--Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining service providers that are aiding growing enterprise adoption of Internet of Things (IoT) technologies to improve decision-making, business processes and customer service.
The study results will be published in a comprehensive ISG Provider Lens™ report, called Internet of Things – Services and Solutions 2021, scheduled to be released in July. The report will cover providers of IoT consulting, implementation and integration support, managed services, analytics and security services.
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
Around the world and across many industries, a growing number of enterprises are deploying IoT systems to collect data that can be analyzed and used to optimize business processes, make more informed decisions and provide more individualized customer service. Benefits can include closer monitoring of operations, predictive maintenance to reduce downtime and intelligent automation of edge devices. Making effective use of IoT, however, often requires building and managing networks, artificial intelligence systems and edge security tools. It also poses organizational challenges, including the integration of information technology (IT) and operational technology (OT) functions.
“IoT is transforming the way enterprises operate by providing critical data for day-to-day operations and decision-making,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Service providers are helping companies implement IoT effectively and address the organizational issues raised by this transition.”
ISG has distributed surveys to more than 150 IoT services and solutions providers. Working in collaboration with ISG’s global advisors, the research team will produce six quadrants representing the services and products the typical enterprise customer is buying in the IoT space, based on ISG’s experience working with its clients. The six quadrants that will be covered are:
- IoT Consulting and Services, covering providers of a variety of services that help lay the groundwork for successful integration of IoT technology into enterprise business models, business processes and IT environments. Consulting services include planning, cost and ROI analysis and development of competitive business cases, among others. Integration services span project management, technology integration and execution across devices, platforms, networks, storage, security and analytics. Providers should be able to address the customer’s specific industry while also offering new, cross-industry perspectives.
- Managed IoT Services, considering a provider’s ability to manage the customer’s whole IoT ecosystem, enabling scalable IoT solutions and managed connectivity systems. Enterprises that have already implemented IoT need extensive support to manage and upgrade these systems. This includes management of security, cloud, networks, equipment, data, platforms, applications and IoT analytics. Providers should also help customers introduce changes to take advantage of emerging technologies such as 5G, augmented reality and AI.
- Connected Mobility Consulting and Services, assessing providers’ offerings in consulting, implementation and integrated systems for intelligent connectivity in the transportation and logistics industries. This includes vehicle-to-vehicle communication as well as technologies to link vehicles with infrastructure, networks and devices. Providers should have research and development resources, roadmaps reflecting industry trends and a comprehensive partner ecosystem.
- Artificial Intelligence on the Edge, evaluating providers of end-to-end strategies and solutions for edge systems with dedicated AI capabilities. With complex AI-powered analytics at the edge, enterprises can avoid the inherent latency of carrying out analytics centrally, so edge systems can make immediate, local decisions and act quickly. Providers in this category have understanding and experience with AI, machine learning (ML) and deep learning. They can build, deliver and maintain a solution on their own or within a frame contract with the support of third parties.
- IoT Endpoint Security, covering providers of solutions and services that address the unique security challenges posed by IoT. Edge devices are insecure by nature and often lack the processing power for basic security functions, yet enterprises rely on them for critical data. IoT security providers help customers establish and maintain end-to-end security across diverse connected devices to resist different types of cyberattacks. Providers should be able to offer strategic planning of security requirements and measures, manage IoT endpoint security at the device level and detect and prevent both known and unknown threats.
- Information Technology/Operational Technology Data Convergence, considering providers that help enterprises integrate the data and processes associated with IT and OT systems. Companies are replacing decades-old OT systems, such as manufacturing equipment and transportation assets, with smart, connected IoT devices linked to modern networks. This allows for better control and monitoring but requires transferring massive volumes of OT data to IT systems for storage and analysis. Providers should offer solutions and services to assess and bridge the gap between IT and OT, have experience aligning these systems and be able to advise customers on organizational change management on non-technical IT/OT issues.
The report will cover the global IoT services and solutions market and examine products and services available in the U.S. and in Europe. ISG analysts Ron Exler, Oliver Nickels and Sri Harsha Edala will serve as authors of the report.
An archetype report will also be published as part of this study. This report, unique to ISG, is the study of typical buyer types of IoT services and solutions as observed by ISG advisors.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as IoT service and solution providers can contact ISG and ask to be included in the study.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.